DAILY JUN'19 DAX - Thursday's trade idea and technicals
Jun'19 Contract – Although bullish signals on the week had been confirmed with gains of 150 Pts and a fresh 5 month high on Tuesday at 11840.0, yesterday’s signals switched to bearish. These were confirmed as a rising trend of higher daily lows was ended with losses of over 175 Pts on the day. The sell-off may be temporary profit taking, but with no sign yet that it is ending, though with intraday sentiment oversold, the outlook for Thursday remains bearish and the call is to sell just modestly on the open and then at 11667..0, Wednesday’s Marabuzo line with a stop loss at 11764.5, the window which has remained open since Tuesday’s close. Targets are to 11587.0, yesterday’s low, 11491.0, the 13th Mar base and 11420.0, March’s low trade.
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